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Assets of Azerbaijani insurance company increase

Finance Materials 7 September 2019 13:50 (UTC +04:00)

Baku, Azerbaijan, Sept. 7

By Kamala Mammadli - Trend:

Total assets of the Azerbaijani insurance company Revan Insurance for the first half of 2019 amounted to 16.037 million manats, which is 6.05 percent more than at the beginning of the year, Trend reports with reference to the financial report of the company.

In the structure of assets, long-term assets grew by 2.9 percent during the reporting period, amounting to 5.807 million manats, 3.105 million manats of which accounted for the bulk of the assets. Long-term financial assets amounted to 1.2 million manats.

The volume of short-term assets for six months increased by 7.9 percent, reaching 10.230 million manats. Among short-term assets, receivables increased by 7.4 percent, amounting to 5.431 million manats.

The volume of cash and cash equivalents increased by 2.7 percent to 4.47 million manats. The volume of reinsurers in insurance reserves almost doubled, amounting to 27,469 manats.

During the reporting period, the charter capital of the insurance company remained unchanged and amounted to 8.9 million manats. Total capital increased by 3.36 percent to 13.119 million manats.

The total liabilities for the reporting period increased by 20.1 percent, amounting to 2.918 million manats. Most part of the liabilities accounted for long-term liabilities of 2.757 million manats, which is a 20.3 percent increase. Short-term liabilities of the insurance company for the first half of the year amounted to 160,306 manats.

($1= 1.7 manats on Sept. 7)

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